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Renewal of Cautionary Announcement

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25 Oct 2013


(Incorporated in the Republic of South Africa)

(Registration number 1993/000460/06)

JSE share code: SCL     AIM share code: SAC

ISIN: ZAE000127460

("SacOil" or the "Company")


Shareholders are referred to the announcement dated 12 September 2013 containing details of the conversion of the Gairloch debt to equity (the "Specific Issue") and the capital raising of up to R570 million by way of a renounceable rights offer (the "Rights Offer").

As the pro forma financial effects of the Specific Issue and Rights Offer have not yet been published, in line with the JSE Listings Requirements, shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made.

25 October 2013


Investment Bank, Corporate Advisor and JSE Sponsor

Nedbank Capital, a division of Nedbank Limited

Legal Advisor

Norton Rose Fulbright South Africa

Nominated Adviser and Broker

finnCap Limited

For further information please contact:


SacOil Holdings Limited

Roger Rees / Tariro Mudzimuirema 


+27 (0)11 575 7232

Nedbank Capital, a division of Nedbank Limited (Investment Bank, Corporate Advisor and Sponsor)

Michelle Benade

+27 (0) 11 294 3524


finnCap Limited (Nominated Adviser and Broker)

Matthew Robinson / Christopher Raggett

+44 (0) 20 7220 0500

FirstEnergy Capital (Joint Broker UK)

Majid Shafiq

Travis Inlow


+44 (0) 20 7448 0200


Pelham Bell Pottinger (UK)

Philip Dennis

Nick Lambert

Rollo Crichton-Stuart


+44 (0) 20 7861 3919

+44 (0) 20 7861 3936

+44 (0) 20 7861 3918